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    500 Rose Avenue

    Long Beach, CA 90802
    • $1,795,000
    • STATUS: ACTIVE
    • ON SITE: 39 days
    • ID#: 302983453
    $1,795,000
    • 4
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    500 Rose Avenue is a 5 Unit property in the Retro Row area of Long Beach adjacent to Rose Park. The two buildings consist of a 4 unit with four 1 Bedroom/ 1 Bathroom Units and a separate 3 Bedroom/ 2 Bathroom House on the corner of 5th and Rose. The 3 Bedroom/ 2 Bathroom house has been recently renovated and the 1 Bedroom/ 1 Bathroom units are in nice condition. 2 parking spaces on driveway in between the units. Separate meters for electrical and gas and all have separate hot water heaters. Landlord only 500 Rose Avenue is a 5 Unit property in the Retro Row area of Long Beach adjacent to Rose Park. The two buildings consist of a 4 unit with four 1 Bedroom/ 1 Bathroom Units and a separate 3 Bedroom/ 2 Bathroom House on the corner of 5th and Rose. The 3 Bedroom/ 2 Bathroom house has been recently renovated and the 1 Bedroom/ 1 Bathroom units are in nice condition. 2 parking spaces on driveway in between the units. Separate meters for electrical and gas and all have separate hot water heaters. Landlord only pays water. Storage shed on the property. There is yard space in between the corner house and the units behind that can be converted into more parking. Long term excellent tenants. Tenants pay their own utilities. Low maintenance property. Units have been updated with partial copper plumbing and ABS drain lines and new electric panels. The Fourth Street / Retro Row location is desirable for young urban professionals seeking close proximity to employment opportunities in Downtown Long Beach, along with a plethora of shopping and dining amenities. 500 Rose Avenue provides an investor with a turnkey condition property in a highly popular Long Beach rental market at a 3.82% cap rate on current rents.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.callstein.com/homes/112583074
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    500 Rose Avenue Long Beach, CA 90802

    • Price: $1,795,000
    • Status: ACTIVE
    • ID#: 302983453
    4
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    Neighborhood:
    Long Beach (90802)
    County:
    Los Angeles
    Area:
    Long Beach (90802)
    Property Description
    500 Rose Avenue is a 5 Unit property in the Retro Row area of Long Beach adjacent to Rose Park. The two buildings consist of a 4 unit with four 1 Bedroom/ 1 Bathroom Units and a separate 3 Bedroom/ 2 Bathroom House on the corner of 5th and Rose. The 3 Bedroom/ 2 Bathroom house has been recently renovated and the 1 Bedroom/ 1 Bathroom units are in nice condition. 2 parking spaces on driveway in between the units. Separate meters for electrical and gas and all have separate hot water heaters. Landlord only 500 Rose Avenue is a 5 Unit property in the Retro Row area of Long Beach adjacent to Rose Park. The two buildings consist of a 4 unit with four 1 Bedroom/ 1 Bathroom Units and a separate 3 Bedroom/ 2 Bathroom House on the corner of 5th and Rose. The 3 Bedroom/ 2 Bathroom house has been recently renovated and the 1 Bedroom/ 1 Bathroom units are in nice condition. 2 parking spaces on driveway in between the units. Separate meters for electrical and gas and all have separate hot water heaters. Landlord only pays water. Storage shed on the property. There is yard space in between the corner house and the units behind that can be converted into more parking. Long term excellent tenants. Tenants pay their own utilities. Low maintenance property. Units have been updated with partial copper plumbing and ABS drain lines and new electric panels. The Fourth Street / Retro Row location is desirable for young urban professionals seeking close proximity to employment opportunities in Downtown Long Beach, along with a plethora of shopping and dining amenities. 500 Rose Avenue provides an investor with a turnkey condition property in a highly popular Long Beach rental market at a 3.82% cap rate on current rents.
    Exterior Features

    Pool N/K

    Interior Features

    Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 2

    Property Features

    Actual Cap Rate 3.82 Annual Expense Actual 25799 Buildings 2 Gross Rent Multiplier Actual 18.47 Gross Scheduled Income Actual 97200 Terms CashConventionalExchange Unit Number For Unit1 1 Unit Number For Unit2 2 Unit1 Rent Actual 1375.0 Unit2 Rent Actual 2600.0 Zoning Assessor

    Listing provided courtesy of Lyon Stahl Investment Real Est. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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